Government nods to introduction of electronic cash registers
The government on Wednesday approved a draft bill introducing electronic cash registers. Under the new system, restaurants, groceries and other businesses will have to electronically transmit their transactions every month to the tax authorities. The bill is part of a broader effort to fight the grey economy, particularly to clampdown on the billions of crowns of undeclared income, especially VAT, which escapes the tax authorities notice when cash payments are made without being recorded. According to Prime Minister Andrej Babiš, the system should be launched in February 2016 at the earliest.